Smallholder farmers, traders get instant loan at Bangladesh Bank Open Loan Ceremony in Satkhira

BRAC Bank and the participating banks have extended instant loan facilities to marginalised farmers and smallholder traders in Satkhira under Bangladesh Bank’s refinancing scheme for Tk. 10/50/100 account holders, according to a press release.

The program, held on October 16, 2025, aimed to provide spot loan facilities to marginalised farmers, low-income individuals, small business owners and school banking account holders. The initiative, managed by the Financial Inclusion Department (FID) of Bangladesh Bank, is designed to enhance access to affordable credit while advancing the broader goal of deepening financial inclusion in rural Bangladesh.

As the lead bank, BRAC Bank organised the event in collaboration with 36 participating banks from the region. It served as a dynamic platform for engagement between financial institutions and grassroots beneficiaries, attracting customers, local business leaders, journalists, and representatives from the local administration.

At the ceremony, the participating banks altogether disbursed BDT 4 crore to 500 borrowers, including BRAC Bank’s distribution of BDT 80 lakh to 131 micro-level farmers, fishermen and entrepreneurs

Md. Iqbal Mohasin, Director, Financial Inclusion Department (FID), Bangladesh Bank, attended the event as the chief guest, while Md. Ali Hossain, Additional Director, Bangladesh Bank, served as the special guest. Syed Abdul Momen, Additional Managing Director and Head of SME Banking at BRAC Bank, was also present alongside other senior officials.

During the program, BRAC Bank disbursed JIBIKA Plus instant loans at a highly competitive interest rate of just 7% to the marginalised communities through its fully digital platform. These collateral-free loans involved no processing fees, apart from a nominal stamp charge. They were processed and disbursed within minutes, demonstrating the bank’s efficiency in delivering fast, paperless, and customer-friendly financial services.

Officials from Bangladesh Bank and other stakeholders highly commended BRAC Bank’s proactive role in facilitating low-cost financing for underserved farming communities.

This initiative underscores BRAC Bank’s unwavering commitment to empowering marginalised communities, strengthening rural livelihoods, and fostering nationwide financial inclusion through innovative and accessible banking solutions.